Home News Five Suspected of Masterminding Multimillion-Dollar Phishing Scheme Indicted by Federal Authorities

Five Suspected of Masterminding Multimillion-Dollar Phishing Scheme Indicted by Federal Authorities

Five Suspected of Masterminding Multimillion-Dollar Phishing Scheme Indicted by Federal Authorities

Five defendants have been charged in a federal indictment with running a sophisticated phishing campaign that targeted workers at multiple US organizations. The plan, according to the Justice Department’s website, entailed sending phishing texts, obtaining employee login passwords, and then breaking into business systems to steal millions of cryptocurrencies and confidential data.

According to the indictment, the defendants tricked workers into disclosing private information by mass texting them under the pretense of official correspondence from their workplaces or associated IT services. Ahmed Hossam Eldin Elbadawy, Noah Michael Urban, Evans Onyeaka Osiebo, Joel Martin Evans, and Tyler Robert Buchanan, a UK national who was viewed by the supposed FBI and had charges unsealed against him, are among those indicted.

“We allege that this group of cybercriminals perpetrated a sophisticated scheme to steal intellectual property and proprietary information worth tens of millions of dollars and steal personal information belonging to hundreds of thousands of individuals,” said United States Attorney Martin Estrada in response to the charges being unsealed, highlighting the seriousness of contemporary phishing threats. Additionally, he alerted the public to the nuances of deceptive messaging.

The FBI’s Los Angeles Field Office Assistant Director in Charge, Akil Davis, clarified the gravity of phishing scam by pointing out that the scheme enabled the defendants to embezzle millions of dollars from victims’ cryptocurrency accounts. “These types of fraudulent solicitations are ubiquitous and rob American victims of their hard-earned money with the click of a mouse,”Davis shared.

In order to get access to virtual currency accounts, the defendants reportedly tricked staff members into visiting phony websites where they stole login credentials and personally identifiable information. They face harsh punishments if found guilty of their allegations, which include a mandatory two-year term for aggravated identity theft, a maximum sentence of 20 years for wire fraud conspiracy, and five years for conspiracy.

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International partners including Police Scotland and federal agencies, including the FBI’s field offices in other cities, worked together on the investigation. Assistant United States Attorneys Sue J. Bai and Lauren Restrepo are prosecuting the cases. The Justice Department’s website has contact details for Ciaran McEvoy, Public Information Officer, who can be reached for additional information.

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